Ashland (NYSE:ASH) Announces Earnings Results

Ashland (NYSE:ASH) released its earnings results on Tuesday. The basic materials company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.14 by $0.13, Yahoo Finance reports. The firm had revenue of $575.00 million for the quarter, compared to analyst estimates of $574.64 million. Ashland had a net margin of 7.62% and a return on equity of 5.95%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. Ashland updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Ashland Trading Down 3.1 %

Shares of ASH stock traded down $2.98 during trading hours on Wednesday, hitting $92.35. 521,841 shares of the company’s stock traded hands, compared to its average volume of 444,812. The stock has a market cap of $4.63 billion, a PE ratio of 30.23 and a beta of 0.92. The stock’s 50 day simple moving average is $95.49 and its 200 day simple moving average is $86.60. The company has a quick ratio of 1.88, a current ratio of 3.30 and a debt-to-equity ratio of 0.44. Ashland has a 12 month low of $70.82 and a 12 month high of $100.35.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Ashland from a “hold” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $126.00 in a research report on Thursday, March 14th. UBS Group boosted their price target on Ashland from $114.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised Ashland from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Wolfe Research assumed coverage on shares of Ashland in a report on Friday, March 1st. They issued an “outperform” rating and a $108.00 target price for the company. Finally, Mizuho upped their price objective on shares of Ashland from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.89.

Ashland Company Profile

Ashland Inc provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; and nutraceutical solutions comprising products for weight management, joint comfort, stomach and intestinal health, sports nutrition, and general wellness, as well as custom formulation, toll processing, and particle engineering solutions.